Assignment 5 - Chapter 7,8 Comm 204 -Spring 2020 Question 5 On January 1, 2019, Denver Corporation issued 10-year, 7% bond with a maturity value of $150,000. The bonds sells at 95.00 and pay interest on July 1 and January 1. Denver Corporation amortizes the bond using the effective interest rate method. The market rate is 8%. Required Prepare the journal entries to record the sale of the bond, the interest expense for July 1 and the interest accrual for December 31 (company has a year end of December 31). Explanations are not required. RATE ACCOUNT DEBIT CREDIT Son